8 Steps to Start Blockchain Development and Get Ready Your App - PowerPoint PPT Presentation

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8 Steps to Start Blockchain Development and Get Ready Your App


Essentially, any industry that needs to securely track financial transactions will likely sooner or later use blockchain. Blockchain is a distributed digital ledger which records transactions in a decentralized database located in multiple places. – PowerPoint PPT presentation

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Title: 8 Steps to Start Blockchain Development and Get Ready Your App

8 Steps to Start Blockchain Development and Get
Ready Your App
Identify the Problem and Goal
  • You need to define the problem at hand and how
    you expect the application to solve it.
  • Do a cost-benefit analysis, audit your internal
    capabilities and identify the issues and risks
  • If this analysis prove to be in favor of
    blockchain and then move to the next step else
    you are better off with traditional development.

Identify the Most Suitable Consensus Mechanism
  • Blockchain is a decentralized system it requires
    all the members of the network to authenticate a
    transaction, this process is called consensus.
  • Bitcoin uses proof of work as a consensus
  • Most popular Consensus Mechanism
  • Proof of stake,
  • Proof of Elapsed Time,
  • Byzantine fault tolerant,
  • Federated,
  • Round Robin and Delegated Proof of Stake.

Identify the Most Suitable Platform
  • Blockchain platforms help you build
    a decentralized application without creating a
    separate blockchain from scratch.
  • Some of the popular platforms include Ethereum,
    BigChainDB, Hyperledger Fabric, Quorum etc.
  • In case of an enterprise level blockchain app,
    you should lay special emphasis on the stability
    and security of the blockchain platform.

Designing the Architecture
  • Blockchain solution can exist on the cloud,
    in-house or in a hybrid model.
  • There are also multiple options for hardware and
    software configuration like processors, operating
    system, memory and disk size etc.
  • You need to choose between the following types of
    blockchain solutions
  • Permission-less
  • Permissioned
  • Private Blockchains
  • Public Blockchains
  • Hybrid

Configuring the Application
  • Configuring a blockchain application needs very
    careful planning.
  • Some of the key components
  • User Permissions,
  • Asset Issuance and Reissuance,
  • Atomic Exchanges,
  • Consensus,
  • Key management and Structure,
  • Parameters, Signatures,
  • Hand-shaking and Address formats.

Building the APIs
  • You might get some pre-built APIs for development
    purposes but youll need to create most of them
    for distinct use cases.
  • Some of the common purposes for which an API is
    needed are
  • Generating key pairs and addresses
  • Performing functions related to auditing and data
    authentication using digital signatures and
  • Storage and retrieval of data
  • Management and trigger of smart contracts
    relating to the issuance, payment, exchange,
    escrow, and retirement.

Design the Admin and User Interface
  • Last step is to create a UI and admin console for
    the application.
  • Decisions need to be made regarding the front-end
    programming language, servers and external
    database for the app.
  • You will use this console for managing the soft
    launch of the application hence do incorporate
    proper analytics into the system.

Scaling the POC and Identifying Problems
  • In this approach instead of developing the
    complete application, you develop a workable
    solution that is good enough to prove your
    hypothesis but not loaded with side features or
    high-end UI.
  • Need to identify any performance issues, latency,
    crashes, storage or memory glitches.
  • As and when the problem arises, find a solution,
    implement it and move further.

Looking for a Blockchain Application
DeveloperContact Us
  • https//www.consagous.com/blockchain-services
  • https//www.consagous.com
  • info_at_Consagous.com

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